Red Hat, the Raleigh software company with a booming business, gave its top executives modest annual raises this week.
CEO Jim Whitehurst's base salary rose to $775,000, for example, a 3 percent increase, Red Hat reported in a Securities and Exchange Commission filing today. Chief financial officer Charlie Peters and others got similar raises.
The base salaries are just a small part of the executives' total compensation. Whitehurst also could receive a bonus of up to $775,000 if Red Hat meets various financial and other goals, plus other pay.
Last year, Whitehurst made $8.97 million, including $7.16 million in stock awards, Red Hat disclosed in a previous SEC filing. That made him one of the Triangle's highest paid CEOs.
Whitehurst has said Red Hat's revenue for its current fiscal year will pass $1 billion for the first time. The company is seeing surging demand for its open-source software, which is a cheaper alternative to Microsoft Windows and other rivals.
That demand is also fueling more hiring.
Red Hat has more than 3,750 workers worldwide and has been adding about 100 employees every quarter. It employs about 700 in Raleigh.
After considering moving its headquarters out of Raleigh, Red Hat officials announced in January that the company would remain in Wake County. That decision came after Red Hat was promised state and local incentives worth as much as $20 million.
Red Hat officials have said the company is considering several sites for the new headquarters, including in downtown Raleigh, the North Hills area and near its current location at N.C. State's Centennial Campus.
Red Hat officials couldn't be reached for comment on the timing of a decision.
Red Hat shares closed today at $43.35, down 10 cents. The stock is up 45 percent in the past year.